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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
FORTITECH SOUTH AMERICA INDUSTRIAL |
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Formerly Known as: |
FORTITECH |
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Registered Office : |
Rodovia Santos Dumont - Sp 075, Km 68, Pista Norte - Viracopos, Zip Code 13053-050 - Campinas/Sp |
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Country : |
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Date of Incorporation : |
13.04.1995 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the manufacture, import, export and distribution of nutrient products |
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No. of Employees : |
86 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Brazil |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
brazil ECONOMIC OVERVIEW
Characterized by
large and well-developed agricultural, mining, manufacturing, and service
sectors, Brazil's economy outweighs that of all other South American countries,
and Brazil is expanding its presence in world markets. Since 2003, Brazil has
steadily improved its macroeconomic stability, building up foreign reserves,
and reducing its debt profile by shifting its debt burden toward real
denominated and domestically held instruments. In 2008, Brazil became a net
external creditor and two ratings agencies awarded investment grade status to
its debt. After strong growth in 2007 and 2008, the onset of the global
financial crisis hit Brazil in 2008. Brazil experienced two quarters of
recession, as global demand for Brazil's commodity-based exports dwindled and
external credit dried up. However, Brazil was one of the first emerging markets
to begin a recovery. In 2010, consumer and investor confidence revived and GDP
growth reached 7.5%, the highest growth rate in the past 25 years. Rising
inflation led the authorities to take measures to cool the economy; these
actions and the deteriorating international economic situation slowed growth to
2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's
traditionally high level of income inequality has declined for each of the last
14 years. Brazil's historically high interest rates have made it an attractive
destination for foreign investors. Large capital inflows over the past several
years have contributed to the appreciation of the currency, hurting the competitiveness
of Brazilian manufacturing and leading the government to intervene in foreign
exchange markets and raise taxes on some foreign capital inflows. President
Dilma ROUSSEFF has retained the previous administration's commitment to
inflation targeting by the central bank, a floating exchange rate, and fiscal
restraint. In an effort to boost growth, in 2012 the administration implemented
a somewhat more expansionary monetary policy that has failed to stimulate much
growth.
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Source
: CIA |
FORTITECH SOUTH
AMERICA INDUSTRIAL E COMERCIAL LTDA
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MAIN ADDRESS: |
RODOVIA SANTOS DUMONT - SP 075, KM 68, PISTA NORTE - VIRACOPOS |
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ZIP CODE/CITY: |
13053-050 - CAMPINAS/SP |
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PHONE: |
19 3765-8900 |
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FAX: |
19 3256-1022 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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NOT AVAILABLE. |
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MAIN ACTIVITIES: |
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SUBJECT IS ENGAGED IN THE MANUFACTURE, IMPORT, EXPORT AND DISTRIBUTION
OF NUTRIENT PRODUCTS |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
13/04/1995 |
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REGISTER DATE: |
13/04/1995 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
00.558.202/0001-53 |
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STATE REGISTER: |
244.537.961.111 |
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SHARE CAPITAL: |
R$ 18.150.000,00 |
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LAST REGISTER OF CAPITAL: |
12/09/2002 |
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BOARD OF
DIRECTORS: |
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JUAREZ ANTONIO FAIRON RECH |
GENERAL DIRECTOR |
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THE DIRECTOR IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS / PARTNERS: |
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JUAREZ ANTONIO FAIRON RECH |
0,1% |
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FORTITECH, INC (USA) |
99,9% |
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AFFILIATES /
SUBSIDIARIES: |
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SERRAFINA CONSULTORIA EM QUALIDADE DE VI |
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FORTITECH SOUTH AMERICA INDUSTRIA E COMERCIAL |
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THE SUBJECT WAS ESTABLISHED ON APRIL 13, 1995 AS FORTITECH SOUTH
AMERICA COMERCIAL LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON MARCH
1, 2003 IT ADOPTED THE ABOVE MENTIONED NAME. THE COMPANY OPERATES WITH THE TRADE NAME: FORTITECH PARTNERS: FORTITECH INC,: HEADQUARTERED AT RIVERSIDE TECHNOLOGY PARK, 2105
TECHNOLOGY D RIVE, SCHENECTADY, UNITED STATES; JUAREZ ANTONIO FAIRON RECH: BRAZILIAN, HOLDER OF DOCUMENTS CPF: 291.928.380-49
AND RG 37.587.328-4, RESIDENTIAL ADDRESS AT AVENIDA MARIA EMILIA A. SANTOS DE
ANGELIS, 121, APTO 163, PARQUE PRADO, ZIP CODE 13044-901, CAMPINAS/SP. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
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PUBLIC
INFORMATION: |
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NO DETRIMENTAL FILES WERE FOUND. |
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DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE
BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY
DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION. OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY. |
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EXCHANGE RATE: |
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US$ 1,00 = R$ 2,25 |
- OFFICIAL RATE ON 24/06/2013 |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
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IN THE ABSENCE OF FINANCIAL DATA NO COMMENTS CAN BE PROVIDED ABOUT THE
COMPANY'S CURRENT FINANCIAL STANDING. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
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NOT AVAILABLE. |
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BRANCH/PHONE: |
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BANCO BRADESCO S/A |
19 3735-1233 |
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BANCO ITAUBANK S/A |
19 3234-2633 |
CAMPINAS/SP |
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ITAU UNIBANCO S/A |
AG: 4871 |
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BANCO ITAU S/A |
19 3003-8795 |
CAMPINAS/SP |
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BANK OF AMERICA MERRILL LYNCH BANCO MULTIPLO S/A |
AG: 1306 |
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REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
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SUBJECT IS ENGAGED IN THE MANUFACTURE, IMPORT, EXPORT AND DISTRIBUTION
OF NUTRIENT PRODUCTS |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
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GERMANY, UNITED STATES AND ENGLAND. |
EXPORTS TO:
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NIGERIA AND SOUTH AMERICA COUNTRIES. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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PHONE: |
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MEAD JOHNSON DO BRASIL COM. E IMP. PROD. LTDA |
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11 3882-2000 |
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NESTLÉ BRASIL LTDA |
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11 5508-9540 |
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NOVARTIS BIOCIÊNCIAS S/A |
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21 2414-4129 |
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PEPSICO DO BRASIL LTDA |
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51 3222-6544 |
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TRÊS CORAÇÕES ALIMENTOS S/A |
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UNILEVER BRASIL INDL. LTDA |
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FOREIGN CLIENTS: |
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PHONE: |
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NESTLE RETIONAL PROCUREMENT SERVICES |
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56-2-338-4192 |
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STAFF: |
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THE COMPANY HAS: 86 EMPLOYEE(S) |
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THE SUBJECT HAS BEEN OPERATING SINCE 1995. SO FAR IT HAS A CLEAR TRADE
HISTORY AND NORMAL PAYMENT BEHAVIOR. THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO
DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER
OF TRADE CREDIT FACILITIES. |
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MAIN SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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PHONE: |
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AJINOMOTO INTERAMERICANA IND. E COM. LTDA |
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11 5080-6740 |
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ASTARIS BRASIL LTDA |
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BASF S/A |
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11 3043-2380 |
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BUSCHLE & LEPPER S/A |
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CARGIL AGRICOLA S/A |
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11 5099-3059 |
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CORN PRODUCTS BRASIL LTDA |
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DELAMANO MAT ELETRICOS LTDA |
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DSM PRODUTOS NUTRICIONAIS BRASIL LTD |
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IQ SOLUÇÕES & QUÍMICA S/A |
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MERCK S/A INDUSTRIAS QUÍMICAS BRASIL |
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11 3346-8578 |
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MOGIANA ALIM S/A |
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PLURY QUÍMICA LTDA |
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RAI INGREDIENTES AROMAS E FRAGANCIAS LTDA |
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RAI INGREDIENTES INDUSTRIAL LTDA |
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11 4176-9507 |
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SOLUTECH IND. E COMERCIO DE ING. ALIM. LTDA |
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11 3812-5655 |
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SPRINGER CARRIER LTDA |
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TECH DATA BRASIL LTDA |
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VICK COM PLAST ISOLANTES LTDA |
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FOREIGN
SUPPLIERS: |
COUNTRY: |
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ATLANTIC CHEMICAL COMPANY |
USA / EUROPE |
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CNE PHARMA |
CANADA |
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LONZA LTD |
SWITZERLAND |
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PAYMENT HISTORY: |
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6 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 131.742,00 |
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AMOUNT OF INVOICES PAID: 20 |
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TOTAL OF PROMPT PAYMENTS: 100% |
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HIGHEST INVOICE: R$ 33.687,00 |
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HIGHEST CREDIT: R$ 33.687,00 |
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BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR
NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON
FULLY SECURED TERMS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.59 |
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UK Pound |
1 |
Rs.92.92 |
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Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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\26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.